Atma Nirbhar Bharat Abhiyan Part-2
Hon’ble Finance Minister on Thursday announced the second installment of measures worth Rs. 3.16 Lakh Crore being taken to revive the economy hit by novel coronavirus pandemic. The measures are part of the Rs 20 Lakh Crore economic package announced by Hon’ble Prime Minister Narendra Modi on Tuesday.
The second tranche of measures for economic revival focuses on migrant workers, small farmers, tribals, and street vendors as follows:
- Universalization of right of minimum wages and timely payment of wages to all the workers including unorganized workers, presently minimum wages applicable to only 30% of workers;
- Statutory concept of national floor wage introduced this will reduce the regional disparity in minimum wages;
- Fixation of minimum wages simplified, leading to less number of rates of minimum wages and better compliance;
- Appointment letter for all workers, this will be promoting formalization;
- Annual health check-ups for employees;
- Occupational safety and health code also applies to establishments engaged in the work of hazardous nature even with a threshold of fewer than 10 workers;
- Definition of inter-state migrant worker modified to include migrant workers employed directly by the employer, workers directly coming to destination state of their own besides the migrant workers employed through a contractor;
- Portability of welfare benefits for migrant workers;
- Extension of ESIC coverage Pan India to all districts and all establishment employing 10 or more employees as against those is notified district/area only;
- Extension of ESIC coverage to employees working in an establishment with less than 10 employees on a voluntary basis;
- Mandatory ESIC coverage through notification by the Central Government for employees in hazardous industries with less than 10 employees;
- Social security scheme for gig workers and platform workers;
- To re-skilling fund introduced for retrenched employees;
- All occupations opened for women and permitted to work at night with safeguards;
- Provision for social security fund for unorganized workers;
- Gratuity for fixed-term employment, provision of gravity on completion of one year service as against 5 years.
Tag: Economy of India, Indian Economy